I own 33.33% shares in a Limited company (restaurant) in UK. The company pays taxes on gross sales as per UK law, however none of the shareholders received any dividends in 2016.
1. I did not report any income on my 2016 taxes since company had losses and there were no dividends, and I did not receive any K1 schedule or 1099-Div form. Do I need to amend anything for 2016?
2. I sold my stake in the company in 2017 and made some profit on my investment. How do I report this foreign income on sale of stocks in a limited partnership for my 2017 taxes?
3. I had to travel to UK to sign documents to finalize the sale. Can I deduct my travel expenses from the profit I made from the sale in 2017?